Strategic Planning Report for the Hospitality Industry - LT6018GN

This report delves into the realm of strategic planning within the hospitality industry, offering a comprehensive overview of key concepts and practical applications. It begins by defining the strategic management process, emphasizing the importance of analysis, goal setting, strategy implementation, and monitoring. The report then applies Porter's five forces model to assess the competitive landscape, examining the threats of new entrants, substitutes, and the bargaining power of suppliers and buyers. A PESTEL analysis of Mariot Hotel London is conducted, considering political, economic, social, technological, environmental, and legal factors. The report further evaluates various strategic options, with a focus on franchising as a viable expansion strategy. The conclusion underscores the critical role of effective strategic planning in driving growth and success within the hospitality sector, advocating for the creation of robust strategic plans to achieve organizational goals. References from academic journals and books provide additional context and support the analysis.

Strategic planning
for the hospitality
industry

Table of Contents
INTRODUCTION
MAIN BODY
1. Strategic management process
2. Porter's five forces model
3. PESTEL analysis of Mariot Hotel London
4. Evaluation of popular strategies
CONCLUSION
REFERENCES

INTRODUCTION
Strategic planning is a great process of creating a effective plan, roadmap or
guideline for the hospitality industry or any other sector.
This planning is totally based on its value, mission, vision, goals and major
objectives, that generate specific strategies or actions to achieve these
objectives or goals.
Strategic planning is very important for all level of hospitality industry because it
provides a effective guidelines of employees or workers for conducting
organisation's operations and functions.
Mariot Hotel London is a best budgeted hotel and located in centre of the city.

Mariot Hotel London

MAIN BODY
1. Strategic management process
Strategic management process define for business to achieve and utilize their
resources in a very effective manner. The strategic management process
includes analysis, goal setting, strategy implementation, strategy formation
and strategy monitoring.
Strategy analysis –
Analysis is a main stage because in this step all the important information will
be gathered.
Collection of information and data for accomplishing company's vision. Strategy
analysis totally depends on the understanding of business needs and its
strategic directions for the growth of business.

The strategic analysis and information gathering step is most important in the
strategic management process. It helps the success of a Mariot Hotel London.
All the process of strategic management are depend on the best or correct
information. The effective and useful information helps the organisation to
make successful strategic process. It also assist in the organisation's great
development and growth.

2. Porter's five forces model

CONTINUE..
 In the formulation of business strategy of Mariot Hotel London, Porter's
five forces model analysis is very useful.
 It defined the threat of new entrants in the hotel industry, threat of
substitutes, bargaining power of suppliers and buyers.
Threat of new entrants in the hotel industry-
 In the hotel industry, competition is very high. It is easier for the other
companies to enter in this sector.
 So that, new entrants will changes the market scenario by changing
market prices, shares, customer loyalty.
 All these elements helps the Mariot Hotel London in their business
strategy by proving vital information about new entrants and their market
behaviour.

CONTINUE..
Bargaining power of suppliers -
 Suppliers are the source of inputs that are requires in providing
products or services. The bargaining power of suppliers is relatively
low because hotel industry has major focus on trained staff, labour
etc.
 The suppliers has also many competitors in the hotel industry market
and it can reduced their bargaining power.
 Mariot Hotel London used these in their business strategy by
focusing on low cost suppliers and reduce their products or services
costs.

3. PESTEL analysis of Point A Hotel London- Shoreditch